Telesat CORP (TSAT) Quarterly Institutional 13F Update (Q2 2026)

TSAT ranks #4503 out of 37501 tracked stocks by institutional interest, inside the more closely watched half of our coverage.

TSAT is a disclosed holding of Israel Englander (Millennium Management), one of the tracked superinvestors on AlphaSMO — it makes up 0.0% of that fund's own 13F portfolio.

TSAT is a top-conviction position for Mhr Fund Management LLC — at 47.6% of their entire disclosed 13F portfolio, it's one of their largest single bets, not just a passing allocation.

The largest dollar stake in TSAT belongs to Public Sector Pension Investment Board, but the position matters far more to Mhr Fund Management LLC, who has 47.6% of their own portfolio riding on it — a reminder that the biggest holder by size and the holder with the biggest bet aren't always the same fund.

Public Sector Pension Investment Board has added to its TSAT position for two straight quarters, increasing it by $391.9M to reach $921.9M today.

Heard Capital LLC has trimmed its TSAT position for two straight quarters, cutting it by $35.5M while still holding $221.2K.

TSAT is up 0.6% today, and institutions have been net buyers of $18.0M this quarter — today's price move and the underlying institutional flow are pointing the same direction.

TSAT reported a net loss of $926.0M over the trailing twelve months.

• Not yet profitable — net loss of $926.0M over the trailing twelve months
• Generated $66.7M in positive operating cash flow
• Current ratio of 0.25x — below the conventional 1.5x liquidity buffer
• Liabilities run 9.11x equity — a highly leveraged balance sheet worth noting